Technical Pick - Ingersoll Rand
On weekly chart it is looking bullish. Ingersoll Rand is finding support at 900 and resistance at 924. On weekly chart, Ingersoll Rand is forming double bottom pattern while trading above 21 and below 55 days exponential moving average which is at 719 and 710 respectively while RSI and MACD too showing positive divergence which indicates that upper side seems certain in it. Ingersoll Rand is likely to touch 960 and 1020 level respectively. Three consecutive close + weekly close above 924 will see nonstop rally in Ingersoll Rand till 1020+ mark in days to come.
Traders don’t go for aggressive or positional selling at all because trend looks positive and we expect rally to remain continue till 1020+++mark in coming weeks. For positional trade, stop loss seeing below 900 on closing basis which in unlikely to breach in near terms.
Trading Recommendation
Buy Ingersoll Rand Cash above 924 for the initial upside target of 960--1020++ mark with stop loss below 900 on closing basis.
More will update soon!!
Buy Ingersoll Rand Cash above 924 for the initial upside target of 960--1020++ mark with stop loss below 900 on closing basis.
More will update soon!!
